Boston Scientific (NYSE:BSX) Shares Gap Up – Still a Buy?

by · The Cerbat Gem

Boston Scientific Co. (NYSE:BSX – Get Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $91.99, but opened at $96.68. Boston Scientific shares last traded at $96.52, with a volume of 2,529,217 shares changing hands.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of research analyst reports. TD Cowen upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Mizuho lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group increased their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada lifted their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, BTIG Research increased their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.26.

View Our Latest Analysis on Boston Scientific

Boston Scientific Stock Down 1.4 %

The company has a 50 day moving average of $89.73 and a 200-day moving average of $83.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The company has a market cap of $139.48 billion, a P/E ratio of 78.21, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80.

Boston Scientific (NYSE:BSX – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the company posted $0.50 EPS. On average, equities analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Activity

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This represents a 93.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares in the company, valued at $3,610,038.74. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,989 shares of company stock worth $2,702,261. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently modified their holdings of BSX. Values First Advisors Inc. bought a new stake in shares of Boston Scientific in the 3rd quarter worth approximately $28,000. Dunhill Financial LLC boosted its holdings in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares in the last quarter. Global Wealth Strategies & Associates grew its stake in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares during the last quarter. Andra AP fonden bought a new position in shares of Boston Scientific during the second quarter valued at $29,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About Boston Scientific

(Get Free Report)

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.

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